What is a 403(b) Plan?

In public educational organizations like School Districts and Community Colleges, 403(b) Plans generally serve as supplemental retirement savings plans designed to supplement retirement benefits available from State pension plans and Social Security. The IRS provides a Summary of 403(b) Plan Basics page and a 403(b) Plan Brochure for Employees on its website.
Please visit the "Why Partipicate?" page for additional information on the benefits of utilizing the 403(b) plan.

Which Optional Features Does the District Allow in its 403(b) Plan?

403(b) Optional features are either included in, or excluded from, the Plan, as specified below and as further described in the parenthetically referenced sections in the Plan Document for Dallas School District 2. These options are listed here in abstract for convenient reference:

Catch-ups under the Plan

15 Years-of-Service Catch-up Elective Deferral Contributions:Yes

Age 50 Catch-up Elective Deferral Contributions:Yes

Contributions to the Plan

Direct Rollovers Into the Plan:Yes

Employer Contributions Allowed:Yes

Employer Post Severance Contributions Allowed:Yes

Exchanges Within the Plan:Yes

Roth Contributions:Yes

Other Plan Transactions

Hardship Distributions:Yes

In-service Distributions After Age 59-1/2:Yes

In-service Distributions From Rollover Accounts:Yes

Loans:Yes

Permissive Service Credit Transfers:Yes

Plan-to-Plan Transfers To the Plan:Yes

Plan-to-Plan Transfers From the Plan:Yes

403(b) Account Access/ Transaction Information

A transaction's availability may be limited by IRS guidelines, the optional features in the Dallas Plan and/or the underlying investment contract. To learn more about the transactions (including definitions and qualifying events), including how to obtain authorization for a transaction, please click here.

Roth Contributions Available

Dallas allows employees to make Roth 403(b) contributions to any Dallas vendor that will accept such contributions. Roth contributions are deferred from paychecks to investment accounts on an after-tax basis, as opposed to Traditional 403(b) which are deferred on a pre-tax basis.

Please note: Roth 403(b) contributions can only be made to designated Roth 403(b) account. You may not send Roth contributions to an existing Traditional 403(b) (pre-tax) account. Roth 403(b) accounts are available from select vendors, please review the information listed on the Dallas 403(b) Vendors page for vendors that show "403(b) Roth Account Available" after the vendor name where applicable, then follow the Enrollment Steps to begin participation.

Am I Eligible To Participate? How Much Can I Contribute?

Please review the Eligibility and Limits Announcement for a full description of the employees eligible to participate and the contribution limits that apply.
Dallas does not require any minimum monthly contribution amount.

How Do I Begin, Change, or Cancel Contributions?

Please review the 403(b) Enrollment Procedures for step-by-step instructions on how to beginning participation, how to change your vendor or contribution amount, or how to end contributions to the plan.

What Are My Investment Options?

Basic Information About Products

Investment products for 403(b) plans may be broken down into the following investment types:

Fixed Annuities

Variable Annuities with a Fixed Account

Variable Annuities without a Fixed Account

403(b)(7) Custodial Mutual Funds (No-Load)

403(b)(7) Custodial Mutual Funds (Load)

403(b)(7) Custodial Mutual Funds (Deferred Sales Charges)

Various vendors may offer one or more of these types of investments. Look for fund profiles, performance, prospectuses, and fees associated with specific vendors in the column to the right for information about particular offerings.

How do I choose a Vendor?

Generally speaking, vendors market their 403(b) investment products using one or more of the following approaches:

What If I Need Financial Advice?

Click on this link for information about the financial advisor industry and helpful suggestions about how to locate one or more qualified, professional, and licensed financial advisors that meet your needs. Learn More

Why did Dallas Adopt CCC Services?

403(b) Plans are subject to complex rules and administrative responsibilities. As a result, Dallas adopted the services of Carruth Compliance Consulting, Inc., an Independent Third Party Administrator (TPA).